The Equipment Leasing Q

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As we enter the holiday season, it’s time to start planning meals for festivities with friends and family. A longtime favorite, HoneyBaked Ham, is popular this time of year and will be served on many tables across the country. This installment of #BehindYourBusiness focuses on the equipment behind a HoneyBaked Ham; as without equipment we couldn’t enjoy this holiday staple year after year.

To produce HoneyBaked Hams, a wide variety of equipment must be utilized. Food processing equipment is a top priority with pieces like cutters, conveyer belts, refrigerators and industrial grade ovens necessary to create the final product. In addition, these facilities will require the correct type of shelving, scales, carts and more. Without this equipment, it wouldn’t be possible for HoneyBaked Hams to make it on the shelves of your local grocery store.

If you’re a food processing plant looking to acquire new equipment, we welcome you to give us a ring at (888) 688-4519.

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LeaseQ CEO Vernon Tirey recently wrote an article discussing the financing options available for LED retrofit projects for leading lighting industry publication, LEDs Magazine. In his article, Vernon lends advice to LED vendors on the savviest financing options for retrofits.

An excerpt from the article is as follows:

Building owners can choose to finance an LED project for $0 down, use someone else’s money, and generate immediate positive cash flow in the very first month. By counting the equipment as collateral for the loan or lease, equipment financing offers some of the best interest rates and payment terms for LED upgrades, regardless of a business owner’s time in business or credit score.

All of this is music to an LED vendors’ ears. LED vendors have long faced an uphill battle in closing deals for commercial spaces, due to the high upfront cost. With automated equipment financing solutions, vendors can quickly summarize the project economics and cash flows for a building owner. This might include cash spent to start realizing improved efficiency, estimated efficiency savings, any applicable rebates or incentives, and instant, online financing quotes.

Equipment vendors should establish cost first, be realistic about future savings, and work with the building owner’s finance department when necessary. The result is a “no-brainer LED retrofit.”

To read Vernon’s full article in LEDs Magazine, please visit: http://bit.ly/2yXsC7x

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MelissaName:

Melissa Carney

Title:

Director, Funding Operations

Where are you from, originally?

Worcester, MA

How did you find LeaseQ?

My former boss from my days at EMC called me up and asked if I’d like to come work with him again.

What do you like most about working at LeaseQ?

Why I like it here starts with where I came from. Before LeaseQ, I spent 12 years at a multinational tech corporation. When the opportunity came to bring my experience to a start-up, I was excited and a little scared at the potential to start the building process. Unlike the information in/information out process that I was accustomed to, I quickly learned that LeaseQ encourages a collaborative and open environment. Every employee is empowered to have a direct impact on the success of LeaseQ. The people here have also made my transition more pleasant and easier than I ever thought possible.

What’s your dream deal for LeaseQ?

Any deal that we can get approved and funded in just one day!

What apps/tech/tools do you use on a daily basis?

I’m always working in Excel and for downtime I browse Instagram.

Any (other) work or life hacks you’d like to share?

I live out of my planner. Every weekend I sit down and write out my tasks for the week ahead to stay on top of all things work and life.

Favorite movie ever (independent of IMDB ratings):

This is always such a hard question for me to answer so with the holidays coming I’ll say, Christmas Vacation.

Favorite activities when you’re outside the office?

Going on adventures with my husband and 2-year-old son, cooking, dining out, and Pure Barre.

Fill in the Blank: I’d love to see my coworker Max Tirey answer these questions.

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Vernon Tirey, founder and CEO of LeaseQ, was recently featured in a MonitorDaily article on the evolution of managed services or “servitization”. In the article, Vernon provides commentary on the impact of managed services on each asset class and the equipment financing industry now and in the future:

Tirey calls servitization the “third big technology wave” to transform business. “We’re moving from a product-driven environment to an information-driven environment to a knowledge-driven environment. We have the ability to put sensors on everything, compute that data in the cloud at a very low cost and turn that information into knowledge. I know not only how many miles a truck went, but I know if they were stop and go miles or big long stretches of highway. This knowledge gives us the ability to dream up new and better ways of serving customers.”

To read the rest of Vernon’s compelling insight in this MonitorDaily article, please visit: http://bit.ly/2ytOnIt

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214Name:

Brandon Echevarria

Title:

Associate Director, Business Development

Where are you from, originally?

Marlborough, Ma

 How did you find LeaseQ?

 Found LeaseQ on AngelList.

 What do you like most about working at LeaseQ?

I like the collaborative environment that we all at LeaseQ work in. Everyone here welcomed me with open arms and this has allowed me to build a lot of great relationships in my first 5 months.  Specifically, I really enjoy working in the Transportation vertical. I work in a great team and I am learning more and more everyday. I am excited for the hard work we are putting in and the results to follow.

 What’s your dream deal for LeaseQ?

 I want LeaseQ to be THE marketplace for equipment finance. How everyday people think of Expedia, I want businesses to think of LeaseQ.

What apps/tech/tools do you use on a daily basis?

 I basically live out of Salesforce during the day but other than that, I use Instagram, Snapchat, Twitter, and Podcast.

 Any (other) work or life hacks you’d like to share?

 Stay motivated to do the little things so that you can build up to your ultimate goal. No big dream comes true overnight, but a step towards that goal should happen everyday.

 Favorite movie ever (independent of IMDB ratings):

 I am a Star Wars nerd so basically any movie in the series.

 Favorite activities when you’re outside the office?

 I have a passion for golf although my skill level will not allow me to make money from it. I

 Fill in the Blank: I’d love to see my coworker ___Melissa Carney__ answer these questions.

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Vernon Tirey, founder and CEO of LeaseQ, was recently quoted in a Small Business Trends article outlining the impact of hurricane season on small businesses. Vernon explains the effect a delay in recovery can have on a company’s customers in the following quote:

Vernon Tirey, founder and CEO of LeaseQ, an online marketplace for business equipment financing, said in a phone interview with Small Business Trends, “The most important thing for any business is their customers. And the longer you delay serving your customers, the more risk there is that your customers will go get that service someplace else. So it’s very important to get back to operating as usual as quickly as possible.”

Read the article for a list of financing resources for 2017 Hurricane Season Business Recovery: http://bit.ly/2x82YIa.

To learn more about LeaseQ’s Disaster Recovery Program, please visit: http://bit.ly/2yCVCzI.

 

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The new Disaster Recovery Program (DRP) connects businesses with instant equipment financing to rebuild after natural disasters

BOSTON (Oct. 10, 2017) – Responding to the ongoing devastation of Hurricanes Nate, Irma and Harvey, LeaseQ is offering equipment financing with no payments for 90 days for business owners needing to quickly replace equipment in the wake of the natural disasters. Multiple lenders are partnering with LeaseQ to offer the payment deferral program, including Fidelity Capital, American Capital and Financial Pacific. For additional information, please visit www.leaseq.com.

Nearly four in 10 small businesses close forever after a flood, according to the Federal Emergency Management Agency (FEMA). While alternative lenders are still estimating the impact of recent hurricanes on small and medium-sized enterprise (SME) loans, Moody’s Analytics expects total property damage and losses from the storms will exceed $150 billion.

“People need to rebuild their businesses now, but insurance may not cover equipment and the typical financing process is too slow,” LeaseQ CEO Vernon Tirey said. “Our vision for LeaseQ has always been to make equipment financing easy, fast and more cost effective, and with the help of our lender partners, we strive to help businesses quickly repair, replace and resume operation after natural disasters.”

“We’re proud to partner with LeaseQ to support businesses affected by Hurricanes Nate, Irma and Harvey,” said Terey Jennings, executive vice president at Financial Pacific Leasing. “Equipment fuels growth, and we have a responsibility to make sure small businesses have the equipment they need to be successful, especially those recovering from a natural disaster.”

For businesses in FEMA declared disaster areas seeking assistance through the LeaseQ Disaster Recovery Program (DRP), please call (888) 688-4519 or visit http://bit.ly/2yCVCzI. Lender conditions vary. Program subject to credit approval.

About LeaseQ
LeaseQ is an online marketplace connecting businesses, equipment sellers, and equipment finance companies to make selling and financing equipment fast and easy. The LeaseQ platform is a free, cloud-based SaaS solution with a suite of on-demand software and data solutions for the equipment leasing industry. LeaseQ provides business process optimization (BPO) and information services that streamline the purchase and financing of business equipment across a broad array of vertical industry segments. Learn more at www.leaseq.com.

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Vernon Tirey, founder and CEO of LeaseQ, was recently featured in a Pumper Magazine article about the benefits of equipment financing for septic trucks. In the article, Vernon explains the advantages to buying outright and financing pumper trucks, saying:

The main advantage of paying cash for a truck, according to Tirey, is that you’re not paying interest. “It’s just like when you pay cash for a car,” he says. “It’s yours, and you don’t owe any interest or fees to the bank. The disadvantage of purchasing is that you won’t have that cash to, say, invest in marketing, expand your business, hire workers or save for a rainy day.”

Those looking at leasing or loaning a pumper truck should shop around. There are lenders for every business size and every class and type of truck, according to Tirey. “These lenders specialize in their specific verticals and speak the operator’s language,” he says.

So, why would anyone choose to pay interest on a truck if they have enough liquid cash? Tirey says it’s not always that simple and that smart business owners often finance trucks to preserve cash. “Equipment purchases made with cash are made with after-tax dollars, while monthly lease or loan payments are considered a pretax business expense. Equipment financing is the first financing any business owner should put in place. A financed truck generates revenue to service the debt and produce positive cash flow. It pays for itself over time.”

To read the rest of Vernon’s advice in this Pumper Magazine article, please visit: http://bit.ly/2jrTYLA

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BrettName:

Brett Rondeau

Title:

Associate Director, Business Development

Office nickname (if applicable):

The Hitman (In reality I’ve only been called this about 3-4 times by our funding manager based on Bret Hart)

Where are you from, originally?

Cranston, RI

How did you find LeaseQ?

Through AngelList

What do you like most about working at LeaseQ?

All my co-workers are great, but the team I am on works really well together and makes me look forward to coming into work each day.

What’s your dream deal for LeaseQ?  

To be able to develop a relationship with Lockheed Martin

What apps/tech/tools do you use on a daily basis?

Fantasy Sports Apps, Instagram, Snapchat, and of course, Salesforce at work

Any (other) work or life hacks you’d like to share? 

You get back what you put in.  I think this applies to every aspect of life.  Work, self, relationships…etc.

Favorite movie ever (independent of IMDB ratings):

I am a huge movie guy, so it is hard to limit it to just one, but anything by Scorsese or Tarantino, or anything that involves Leo.

Favorite activities when you’re outside the office? 

Golfing, hanging with friends, and crushing Netflix

Fill in the Blank: I’d love to see my coworker_Brandon Echevarria_answer these questions.

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Provide equipment financing and other loan products to restaurant industry faster than any bank

BOSTON (Sept. 12, 2017)LeaseQ, an online marketplace connecting business owners, equipment sellers, and lenders to make selling and financing equipment fast and easy, today announced a national partnership with ARF Financial, the only FDIC-compliant financial lender that provides short-term, unsecured business loans and lines of credit for restaurant/hospitality business owners and retailers nationwide.

“We are unique in having our own sales organization, and LeaseQ gives our loan consultants around the country a lease product with instant quotes,” ARF Financial CEO Steve Glenn said. “Now we are a one stop lender offering additional products to satisfy our customers funding needs for their businesses.”

Innovations in the equipment finance industry will continue to increase flexibility and convenience for customers, according to the Equipment Leasing and Finance Association’s (ELFA) Top 10 Equipment Acquisition Trends for 2017. Automation fuels advances in instant quotes, soft credit pulls, same-day approvals, one-day funding and blockchain for secure, multi-party transactions – many of which are available today through LeaseQ and ARF Financial.

“You can finance a car in an hour, but not a walk-in freezer to start or expand a restaurant,” said Vernon Tirey, co-founder and CEO of LeaseQ. “One-day funding is a trendy thing to say in equipment financing, but when the restauranteur or hotel manager presses the button to get financing, it has to work. We’re advancing our technology and partnering with lenders like ARF Financial who understand the value of automation to make it happen.”

LeaseQ and ARF Financial offer automated, flexible equipment financing for hospitality merchants who are frustrated with the time it takes to get a bank loan, or who cannot get a bank loan at all, including those:

Expanding a facility
Upgrading equipment
Adding a location and renovating the property
Managing working capital, and more

There are currently 150 lenders on the LeaseQ platform serving 28 vertical markets. Learn more at www.leaseq.com.

About LeaseQ
LeaseQ is an online marketplace connecting businesses, equipment sellers, and equipment finance companies to make selling and financing equipment fast and easy. The LeaseQ platform is a free, cloud-based SaaS solution with a suite of on-demand software and data solutions for the equipment leasing industry. LeaseQ provides business process optimization (BPO) and information services that streamline the purchase and financing of business equipment across a broad array of vertical industry segments. Learn more at www.leaseq.com.

About ARF Financial
ARF Financial LLC is a California licensed lender that sources short-term business loans and lines of credit for restaurant/hospitality and retail merchants nationwide. Since 2001, ARF has filled the void between traditional bank financing and less attractive venues of obtaining capital, giving merchants the ability to maintain control of their business, be more profitable and meet their financial goals. The company is managed and staffed by industry veterans with extensive experience in restaurant finance and small to medium retail industries.

For more information on their services, visit their website at www.arffinancial.com. You may fill out their contact form at www.arffinancial.com/contact, call 1-866-702-4430, or send an email to funding@arffinancial.com for inquiries.

MEDIA CONTACT: McKenzie Mayer
Matter | 617.391.9896
leaseq@matternow.com

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